Still trying to figure out this new blog. But as will be promised in my Thursday column, here are the congressman’s opening comments from the AIG hearing:
“Thank you Mr. Chairman. Last fall, President Bush asked for my help to avoid a total collapse of our economy – a collapse that would have pushed our country into even greater economic peril. Back home, small business owners and major corporations, called me to let me know that if we did not take extraordinary steps in those extraordinary times that many of the employers my constituents rely on would be forced to close their doors for good.
“Now, it disappoints me to see that some of the very companies who requested taxpayer assistance have failed to change their pattern of irresponsible decision-making which undoubtedly contributed to the current economic crisis. The Bush administration, and then Chairman of the New York Fed, Timothy Geithner, mismanaged the implementation of this program and the Obama administration, while assuring us that they knew exactly what was going on and how monies were being spent, have failed to bring about the necessary reforms and safeguards to protect the American taxpayers.
“Panel, we need to figure out our exit strategy, how taxpayers are going to be paid back, and when we can end this toxic relationship with AIG.”
And here’s a link to video from the hearing, in case the imbed above doesn’t work. (Not very exciting video, is it?)
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That’s it! Get moving on your own website.
To make money from it, it must have value.
That means the content must have value – information, not just opinion.
Now, here is my first information and opinion about AIG:
1. Obama and all these Congressmen knew about the bonuses long ago.
2. This phony media outrage is cover for the $93 billion funneled through AIG to other banks.
3. Democrats are propping up AIG in order to avoid a mortgage collapse that bring criminal investigations of FMAE, FMAC and their housing programs for unqualified blacks and illegal alens to buy houses they could not afford.
4. The bonuses collected by Democrats close to Obama, on the boards of FNMA and FMAC, are much larger than these of AIG, and the bonuses were obtained by fraudulent quarterly reports of non-existent profits.
I’ll give it shot. Glad to see you’re continuing the Blog.
Just checking to make sure the comment function is working. The main page says there’s a comment on this post, but I’m not finding it…
The Democrats did not start this bailout routine.It was the George Bushes. They created this world tradgedy.They faked the market to make it look good for the Bush years and the economy was faked by these neo conservatives hoping for another year.Now they have took their trash and dumped it on the White House Lawn and told Obama it is now his trash and he must decide what to do with it.He has worked to clean it up,the GOP won’t allow him to and they castigate him because it is still on the lawn.As long as the GOP is given reign,they will take the whole horse.